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February 20, 2013
06:03 EDTC, ODP, CVX, STI, JPM, BA, BAC, OMX, RDS.A, CMEOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: There’s a renewed willingness by some banks to lend cheaply and on flexible terms. But a new concern is emerging: Is the pendulum swinging too far the other way? So-called commercial and industrial loans were up 4.4% in Q4 and 16% for all of 2012, according to SNL Financial data, the Wall Street Journal reports...Some oil companies (CVX, RDS.A) are still making multibillion-dollar bets on finding crude in the deepest waters of the Gulf of Mexico. The target is called the Lower Tertiary, considered by many to be the Gulfs last frontier, the Wall Street Journal reports...REUTERS: Boeing (BA) has found a way to fix battery problems with its grounded 787 Dreamliner jets which involves increasing the space between cells, sources say, Reuters reports...Antitrust experts said there were no guarantees that a deal to merge Office Depot (ODP) with OfficeMax (OMX) would win government approval, Reuters reports...BLOOMBERG: The biggest U.S. banks (JPM, C, BAC, STI) are lending the smallest portion of their deposits in five years as cash floods in from savers and a slow economy damps demand from borrowers. The average loan-to-deposit ratio for the top eight commercial banks fell to 84% in Q4 from 87% a year earlier and 101% in 2007, according to Credit Suisse Group data, Bloomberg reports...CME Group’s (CME) decision to allow users of its interest-rate swap future contracts to avoid tougher oversight is drawing scrutiny from the Commodity Futures Trading Commission, Bloomberg reports.
News For A;BA;ODP;OMX;JPM;C;BAC;STI;CME From The Last 14 Days
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November 13, 2015
16:00 EDTBACOptions Update; November 13, 2015
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15:22 EDTODPOffice Depot, Staples offer tranfer of corporate contracts, WSJ says
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15:07 EDTODPStaples, Office Depot in talks to transfer contracts to Essendant to appease FTC
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11:07 EDTBACMizuho Financial Group probably sold bulk of Bank of America shares, Reuters say
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10:34 EDTCSpringleaf reaches settlement with DOJ to clear way for OneMain acquisition
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10:07 EDTCSpringleaf trading halted, pending news
10:06 EDTCSpringleaf agrees to divest branches to win U.S. approval of OneMain deal
10:04 EDTCU.S. files suit to block Springleaf, OneMain Financial deal
The United States of America, acting under the direction of the Attorney General of the United States, and the States of Colorado, Idaho, Texas, Washington and West Virginia and the Commonwealths of Pennsylvania and Virginia, filed a civil action in a Washington, D.C. district court to enjoin the proposed acquisition of OneMain Financial by Springleaf Holdings (LEAF) and to obtain other equitable relief. Citigroup (C) previously reached a definitive agreement to sell OneMain Financial Holdings to Springleaf for a purchase price of $4.25B.
09:35 EDTBAC, CActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
08:30 EDTBACBank of America 31.255M share Block Trade priced at $17.10
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05:24 EDTODPStocks with implied volatility above IV index mean; ODP CRM
Stocks with implied volatility above IV index mean; Office Depot (ODP) 108, Salesforce (CRM) 48 according to iVolatility.
November 12, 2015
17:32 EDTBABoeing awarded $101.59M government contract modification
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16:00 EDTBACOptions Update; November 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.28 to 20.18. Option volume leaders: GE AAPL MNKD XOM BAC FB SUNE CSCO NFLX SYF BABA MSFT
12:02 EDTBANorthrop's U.S. bomber work halted after rivals protest, Reuters says
Work on a long-range strike bomber contract to Northrop Grumman (NOC) has been put on hold after Boeing (BA) and Lockheed Martin (LMT) contested the selection process, Reuters reports, citing a U.S. Air Force spokesman. The spokesman added that the order to halt work was issued after a formal protest was filed November 6, the report says. Reference Link
12:00 EDTBACBank of America names David Leitch as general counsel, effective January 1
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11:35 EDTODPEU extends Staples, Office Depot investigation to March 2, Reuters says
Antitrust regulators in the European Union have extended their investigation into office suppler Staples' (SPLS) offer to acquire rival Office Depot (ODP) by a few weeks to March 2, says Reuters. Reference Link
09:36 EDTBACActive equity options trading on open
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09:19 EDTJPMPayPal sinks with Apple eyeing peer-to-peer payments
Shares of PayPal (PYPL) are weak again this morning following a report yesterday afternoon alleging that Apple (AAPL) is set to launch a competitor to one of the payment technology company's offerings. Analysts that were already split about PayPal's prospects are also divided on the potential impact of Apple's entry, with a bull at Citi downplaying the risk and a bear at Piper Jaffray voicing greater concern. APPLE COMPETITION: Apple is in talks with U.S. banks to create a mobile person-to-person payment service, reported The Wall Street Journal yesterday afternoon, citing people familiar with the matter. Apple's service, which would likely be linked to the company's Apple Pay system and could get off the ground next year, would compete with PayPal's Venmo peer-to-peer, or P2P, payment platform, the Journal said. BULLISH TAKE: Citi analyst Ashwin Shirvaikar says his Buy thesis on PayPal is unchanged after the Journal's report regarding Apple's efforts. Apple is a "viable competitor in a crowded field," but its product is unlikely to change the near-term growth trajectory of PayPal's Venmo, Shirvaikar told investors in a research note. He keeps a Buy rating on PayPal with a $44 price target. BEARISH TAKE: Piper Jaffray analyst Gene Munster believes Apple's reported plans for a P2P payment offering sometime in 2016 will have limited to no impact on his model for the iPhone maker, but cautions that more mobile wallets offering P2P will add to the challenges facing PayPal's Venmo. The analyst believes the "real estate for all logos at the point-of-sale will be scarce and cluttered," noting that in addition to new entrants like Apple Pay, Samsung Pay, Google's (GOOG) Android Pay, JPMorgan's (JPM) Chase Pay, MCX/CurrentC and PayPal there are still legacy players such as Visa (V) Checkout, MasterCard (MA) Masterpass, and American Express' (AXP) Express Checkout. Munster thinks Venmo is a strong offering that will keep gaining share, but in addition to competition, he sees low interest rates hindering float income and thinks the value proposition for consumers and merchants remains "uncertain." The analyst keeps an Underweight on PayPal, which is the firm's equivalent of a "sell" rating, with a $30 target for its shares. PRICE ACTION: Shares of PayPal slipped 1.8% to close at $36.33 yesterday following the Journal's report. In pre-market trading, the stock fell another 1% to $36 per share.
06:12 EDTC, JPM, BACMorgan Stanley to offer wealth management clients savings accounts, Reuters says
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05:27 EDTODPStocks with implied volatility above IV index mean; ODP NBG
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